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Worksheets

BMF I Unit 6 Review

Total questions: 139

Worksheet time: 1hrs 26mins

Name
Class
Date
1.

___________ is the machinery, tools, and factories owned by a business and used in production.

a)

Capital

b)

Stock

c)

Money

d)

Liabilities

e)

Equity

2.

Equity is the difference between the value of your assets minus your total_________________.

a)

liabilities

b)

assets

c)

stocks

d)

bonds

3.

All of the following choices are examples of investments except ...

a)

Taxes

b)

Stocks and Bonds

c)

Real estate

d)

Businesses

4.

When you trade, or exchange, one item for another item this method of payment is known as_____________.

a)

barter

b)

money

c)

craigslist

d)

credit

5.

Privately owned, publicly controlled, central bank of the U.S.

a)

National Bank

b)

Federal Reserve System

c)

State Bank

d)

Barter Economy

6.

Assets a company already owns and can use to finance a new venture are called

a)

equity

b)

dividends

c)

return on capital

d)

accounts payable

7.

Marcus set a goal to buy a used car in the next few months. He plans to make a $2500 down payment and has already saved $1300. If he can save $150 each month for this goal, how long will it take him to save the entire the rest of the money?

a)

6 months

b)

8 months

c)

10 months

d)

12 months

8.

Willie's Weekly Spending Log:

bought 5 lunches at $4 each

gave $5 to a friend for gas

weekly paycheck of $57

received $5 from Aunt Lillie

Purchased a video game for $14

Purchased 2 buses tickets for $1.25 each

Purchased a concert ticket $20


What was Willie's income during the week?

a)

$5

b)

$57

c)

$62

d)

$123.50

9.

Willie's Weekly Spending Log:

bought 5 lunches at $4 each

gave $5 to a friend for gas

weekly paycheck of $57

received $5 from Aunt Lillie

Purchased a video game for $14

Purchased 2 buses tickets for $1.25 each

Purchased a concert ticket $20


What was the total of Willie's expenses during the week?

a)

$44.25

b)

$61.50

c)

$66.50

d)

$106.25

10.

Willie doesn't want to ask his mom for money next week if he is short on cash? What is one way that Willie can change his spending or income so he isn't spending more than he is receiving?

a)

Cut his hours at work

b)

Cut his expenses by not buying concert tickets

c)

Give his friend more money for gas

d)

Increase the amount of time he spends playing video games

11.

Which best represents a SMART goal for Willie?

a)

Save $10 a month so I can go on a class trip to Washington DC.

b)

Save money to go on a class trip.

c)

Save $10 a month for the next 10 months for a total of $100 to have enough money to go on the class trip to Washington DC on September 18th, 2021.

d)

Save $100 to go on the class trip to Washington DC.

12.

Any money you receive such as an allowance or paycheck

a)

Cash flow

b)

Fixed expenses

c)

Income

d)

Spending plan

13.

A predictable amount of money spent to buy something or to something that is the exact same amount every time.

a)

Cash flow

b)

Fixed expenses

c)

Income

d)

Opportunity Cost

14.

What is your credit rating based on?

a)

History

b)

Earnings

c)

Other debt

d)

All of these

15.

Which of these would not be an asset?

a)

Car

b)

Van

c)

Overdraft

d)

Debts owed to you

16.

A general rise in the level of prices is the definition of ……..

a)

Interest rates

b)

Inflation

c)

Exchange rates

d)

Loans

17.

How do you calculate profit?

a)

Profit = Revenue - Expenses

b)

Profit = Sales + Taxes

c)

Profit = Revenue - Sales

d)

Profit = Revenue + Expenses

e)

Profit = Expenses - Revenue

18.

What is a useful formula to estimate how long it will take for an investment to double in value?

a)

Rule of 72

b)

Risk Tolerance

c)

Wealth Factor

d)

Rule of Compound Interest

19.

Income received from sales.

a)

Rate of Return

b)

Revenue

c)

Net Worth

d)

Interest Rate

e)

Equity

20.

Which item has the least liquidity? (aka illiquid)

a)

Cash

b)

Savings Account

c)

New Car

d)

Large Farmhouse

21.

The payout of a company's earnings (profit) to its shareholders (owners)

a)

Dividend

b)

Earnings Per Share

c)

Equity

d)

Rule of 72

e)

Fiat Money

22.

The _______ considers the weighted averages of a group of consumer goods and services.

a)

Consumer price index

b)

Aggregate supply

c)

Producer price index

d)

Aggregate demand

23.

When a person uses an ATM card to obtain money from a checking account, the money is deducted from this account

a)

30 days after the withdrawal is made.

b)

as soon as the withdrawal is made.

c)

24 hours after the withdrawal is made.

d)

24 hours after the withdrawal is made.

24.

David bought stock for $4,000 and one year later he sold it for $1,000. The sale resulted in a:

a)

Yield

b)

Capital Loss

c)

Market value

d)

Price Earning

25.

A type of electronic funds transfer (EFT) is:

a)

An ATM transaction

b)

A deposit made with a bank teller

c)

Not widely used by consumers

d)

A transaction made with a check

26.

Shares of stock are also known as:

a)

Bonds

b)

Money market funds

c)

Debts

d)

Equities

27.

Debbie was behind on her stereo installment credit contract payments. As a result, the creditor seized and sold the stereo. The sale price did not cover all of the loan balance, the creditor got a court to order her employer to withhold part of her wages. This court order is called:

a)

Wage assignment

b)

Bankruptcy

c)

Deficiency judgment

d)

Garnishment

28.

How does the Federal Deposit Insurance Corporation(FDIC) protect consumers?

a)

It insures consumer deposits even if a banking system fails

b)

It ensures that banks make a profit for investors

c)

It guarantees consumers a livable income

d)

It grants credit to consumers in need

29.

Which of these can have a negative impact on someone's financial goals?

a)

Dropping out of high school

b)

Getting a low-interest loan for a car

c)

Using credit cards to build a good credit score

d)

Getting a full-time job while attending college

30.

Not being able to have all of the goods and/or services that you want because people have endless wants, but goods and services aren't endless. So people are forced to make choices.

a)

Scarcity

b)

Trade

c)

Standard of Living

d)

Human Resources

31.

The most highly valued opportunity or alternative forfeited when a choice is made

a)

Trade

b)

Specialization

c)

Interdependence

d)

Opportunity Cost

32.

Courtney’s Hair Palace is a small, locally owned beauty salon in Olean. This represents what type of business?

a)

corporation

b)

partnership

c)

sole proprietorship

33.

Sophia is starting her own coffee shop. What economic term would best describe Sophia and what does that term mean?

a)

Consumer – a person who uses or consumes goods

b)

Partnership – partner in the lemonade stand

c)

Entrepreneur- - person who takes a risk to start a new company

34.

Who is this "Father of Capitalism"?

a)

Karl Marx

b)

Adam Smith

35.

At what price would there be a surplus of this good?

a)

above equilibrium price

b)

at equilibrium price

c)

below equilibrium price

36.

If you worked 40 hours per week at $10 per hour, what is your gross income for the week?

a)

$227

b)

$4000

c)

$40

d)

$400

37.

A disadvantage of buying a new car is it loses value faster than a used car. This is called

a)

Capital gain

b)

Inflation

c)

Depreciation

d)

Amortization

38.

Three kinds of data that the computer at the reporting agency has are ...

a)

a person's background

b)

a person's history of borrowing and repayment

c)

a person's employment record

d)

a person's family background

39.

Bonds issued by local governments for improvement projects

a)

Municipal

b)

Savings

c)

Treasury

d)

Junk

40.

Owned by members or employees of a local employer

a)

Bank

b)

Credit Union

c)

Both

41.
Which of the following is an advantage to renting a place to live?
a)
Limited expenses for maintainance.
b)
Limited expenses for utilities
c)
Limited options for size and location
d)
Limited rights for redecorating
42.
The name for a renter is:
a)
landlord
b)
rentee
c)
tenant
d)
lease 
43.
A one time fee to cover damages beyond normal wear and tear is a
a)
Eviction
b)
Rental paymnent
c)
Security Deposit
d)
Amenities
44.
What is inflation?
a)
rise in all prices
b)
rise in most prices
c)
rise in some prices
d)
rise in general prices
45.
An index that measures the prices of a market basket of goods that typical consumers purchase.
a)
Consumer Price Index
b)
Federal Reserve
c)
Bank
d)
Deflation
46.
Who is most likely to be hurt by inflation?
a)
someone who borrowed money
b)
a retiree on a fixed income
c)
a business owner
d)
the U.S. government
47.

When deflation occurs, everything is falling in value except:

a)

Income

b)

Prices

c)

Debt

d)

Commodities

48.

What are SMART goals?

a)

an objective to drive sales for the business

b)

concrete targets you strive to achieve over a period of time

c)

long term aims to help the business grow over a period of time

d)

short term objectives that strive to develop functional areas of the business

49.

In LLP What is the maximum no of partners?

a)

10

b)

50

c)

100

d)

Unlimited

50.

What would be a potential threat to a business? (two possible answers)

a)

Changes in technology and markets e.g. The internet.

b)

Ability to prioritize

c)

Flexibility

d)

Interruptions in the market

51.

What does the acronym SWOT stand for?

a)

Strengths, Weaknesses, Octopus, Threats

b)

Strengths, Weaknesses, Opportunities, Threats

c)

Strengths, Weak points, Opportunities, Threats

d)

Strengths, Weaknesses, Opportunities, Time

52.

What is the purpose of performing a SWOT Analysis?

a)

Gives the management team a broader view on the potential opportunity

b)

Evaluates whether the business venture is a good idea.

c)

Identifies internal and external factors that may affect the business future performance.

d)

Access an organization’s performance

53.

A business/organization has a poor reputation among customers , this would be a(n)

a)

Strength

b)

Weakness

c)

Opportunity

d)

Threat

54.

New competitors are entering the market; this is an example of a(n)

a)

Strength

b)

Weakness

c)

Opportunity

d)

Threat

55.

Strengths and weaknesses are external on a SWOT analysis

a)

True

b)

False

c)

I don't know

56.

Financial plans that are more than five years off are called

a)

Opportunity costs

b)

long term goal

c)

intermediate goal

57.

Saving for vacation you are taking in 6 months is

a)

Opportunity cost

b)

long term goal

c)

intermediate goal

d)

a need

58.

WHAT'S MISSING? I plan to save $2,000 for a new computer by saving my whole paycheck for 3 months.

a)

measurable

b)

attainable

c)

specific

59.

WHAT'S MISSING: I plan to save $5,000 over four years from my paychecks.

a)

measurable

b)

attainable

c)

specific

60.

What does the acronym SMART stand for?

a)

Specific, Measurable, Attainable, Relevant and Timebound

b)

Specific, Meaningful, Attainable, Reality and Timebound

c)

Special, Measurable, Attractive, Reality and Treasured

61.

IRS stands for ____________________.

a)

Internal Revenue Service

b)

I'm Really Smart

c)

Internal Receipt Sender

d)

International Rescue Service

62.

Long-term goals are often categorized as:

a)

more than a year

b)

less than a year

c)

up to 3 months

63.

Medium-term goals are usually categorized as:

a)

3- 12 months

b)

less than a year

c)

up to 3 months

64.

Short-term goals are usually categorized as:

a)

3- 12 months

b)

less than a year

c)

up to 3 months

65.

Deciding that you want something and buying it right away is called __________.

a)

delayed gratification

b)

reduce gratification

c)

instant gratification

66.

All of these are questions to ask when figuring out the Specific part of your SMART goals EXCEPT:

a)

What exactly needs to be accomplished?

b)

Who else will be involved?

c)

What can I do today?

67.

All of these are questions to ask when figuring out the Measurable part of your goals EXCEPT:

a)

How much change needs to occur?

b)

How many actions will it take?

c)

What is the deadline for reaching the goal?

68.

Ask all of the following questions when figuring out the Attainable part of your goals EXCEPT:

a)

Do I have/can I get the resources to achieve the goal?

b)

Is the goal a reasonable stretch for me?

c)

Is this a worthwhile goal for me right now?

69.

Ask all of the following questions when figuring out the Relevant part of your goals EXCEPT:

a)

Is this a worthwhile goal for me right now?

b)

Is it meaningful 2 me-or something others think I should do?

c)

When do I need to take action?

70.

Ask all of the following questions when figuring the Time-bound part of SMART goals EXCEPT:

a)

What is the deadline for reaching the goal?

b)

When do I need to take action?

c)

Who else will be involved?

71.

An amount of money paid by a company regularly to it's shareholders

a)

Profit

b)

Bonds

c)

Dividends

d)

Cash back

72.

When you buy a share, you are buying a small piece of _______ in a company.

a)

debt

b)

ownership

c)

risk

73.

The chance of loss.

a)

Stock

b)

Reward

c)

Risk

d)

Real Estate

74.

Your risk tolerance for investing should be determined by these two factors:

a)

Your shares and bonds

b)

The time period of the investment and when you will need access to the money.

c)

Your debits and credits

d)

Your education level and ethnicity

75.

A collection of stocks and/or bonds combined into one fund, which will be traded as a unit, typically chosen and actively managed by an expert in exchange for a fee from each investor.

a)

Stock

b)

Bond

c)

T-Note

d)

Mutual Fund

76.

When an investor chooses to invest in a large variety of shares, bonds and/or other investments, as a way to reduce your overall risk.

a)

Dividends

b)

Mutual Fund Investing

c)

Portfolio

d)

Diversification

77.

The overall collection of investments held by a person.

a)

Fund

b)

Portfolio

c)

Savings Account

d)

Deposits

78.

Which of the following is not an investment?

a)

Wage

b)

Property

c)

Stocks

d)

Shares

79.

If you save money you will earn extra money from the bank called

a)

Investment

b)

Interest

c)

Rent

d)

Profit

80.

Which factors need to be considered when analysing investment options?

a)

Gender

b)

Risk

c)

Returns

d)

Licences

e)

Costs

81.

Potential returns of investment in property.

a)

Rent

b)

Fees

c)

Capital gain

d)

Costs

82.

An investment where you are lending your money to a government, council or company.

a)

Shares

b)

Bonds

c)

Loan

d)

Mortgage

83.

What is a broker?

a)

Someone who breaks his promises

b)

A person who has a license to buy and sell shares on behalf of other people.

c)

A person who has no money

d)

Another term for a millionaire

84.
Why is compound interest more advantageous than simple interest?
a)
It’s more difficult to calculate, so fewer people use compound interest, making more profits for those who do.
b)
Compound interest accumulates very rapidly, so you only have to save for 3 years or fewer to earn far more money.
c)
Compound interest is attached to the stocks with the highest risk, so you get the highest interest on them
d)
In compound interest, you earn interest on not only your principal, but also on the interest you’ve already made.
85.
Rule of 72:  How many years to double my money if I get a 9% return on investment? 
a)
8 years
b)
7.2 year
c)
7 years
d)
9 years
86.
Why do companies issue stocks?
a)
To create and investment opportunity into other businesses.
b)
To increase employee cooperation 
c)
To be traded individually
d)
To raise money for economic investment
87.
What is an IPO?
a)
Initial Polling Office
b)
Initial Public Offering
c)
International Public Office
d)
Increasing Public Opportunity
88.

Money set aside for unanticipated expenses or loss of income

a)

Mutual Fund

b)

T-Note

c)

Index Fund

d)

Emergency Fund

89.

A fee you’ll be charged for withdrawing money before a CD’s maturity date

a)

Index

b)

Interest

c)

Risk

d)

Penalty

90.

A sudden and extreme downturn in stock performance/value

a)

Index

b)

Crash

c)

Penalty

d)

Risk

91.

Semiannually means

a)

Once a year

b)

Every other year

c)

Twice a year

d)

Four times a year

92.

A raw material or primary agricultural product that can be bought and sold, such as copper or coffee

a)

CD

b)

Dividend

c)

Commodity

d)

Bond

93.

A certificate issued by a bank to a person depositing money for a specified length of time.

a)

Mutual Fund

b)

Index

c)

Bond

d)

Certificate of Deposit (CD)

94.

What is the chief reason corporations issue stock?

a)

To raise money for the corporation

b)

To give consumers ownership in the company

c)

To secure tax advantages

d)

To help the economy

95.

When John bought a Microsoft bond, he was:

a)

borrowing money from Microsoft

b)

Buying part ownership of Microsoft

c)

Investing in a liquid instrument

d)

Lending money to Microsoft

96.

Which financial product may pay a dividend?

a)

savings account

b)

money market account

c)

certificate of deposit

d)

common stock

97.

The ___________________ is a report of the revenue, expenses, and net income or net loss over an accounting period.

a)

income statement

b)

accounts payable

c)

owner's equity

d)

financial statement

98.

GDP

a)

Gross democracy price

b)

Gross domestic product

c)

Gross domestic price

d)

None of these

99.

When it comes to buying stocks, the goal is to...

a)

Be patient! Wait for a stock price to double before you invest

b)

Diversify! Buy a lot of high risk stocks

c)

Do your research! Follow all of the advice of the professionals

d)

Buy low! Hold the stock for a time, then sell it for more than you paid

100.

A key difference between saving and investing is

a)

Saving is for everyone, investing is for the wealthy

b)

Your money is insured when investing, it is not in savings

c)

Investing has a guaranteed return, savings does not

d)

Saving is for emergencies & goals, investing is for long-term wealth

101.

Which would be considered the highest risk investment type?

a)

Stock

b)

Mutual Fund

c)

Bond

d)

Money Market Account

102.

Why is it important to start investing as soon as possible?

a)

You take less risk when you are young, so money will be safe

b)

You have more time for your money to compound

c)

Investing is an easy way to make quick money

d)

Fees on investments are cheaper when you are younger

103.

Your initial investment is referred to as

a)

interest

b)

inflation

c)

principal

d)

return

104.
a unit of ownership of a company
a)
common stock
b)
government bond
c)
corporate bond
d)
equity capital
105.
this gives the owner the advantage of receiving cash dividends before common stockholders receive cash dividends
a)
corporate bond
b)
preferred stock
c)
common stock
d)
equity capital
106.

Aleah started a job at Scheels and was offered a retirement plan. What is the name of the retirement plan offered by her employer?

a)

IRA Plan

b)

403(b) Plan

c)

401(K) Plan

d)

529 Plan

107.

A ________ exists when stock prices are consistently rising.

a)

bear market

b)

bull market

c)

trough market

d)

recession market

108.

Economic decline can be a good time to buy stocks that you think are sound investments. (buy low sell high concept). What market should you buy low in?

a)

bear market

b)

bull market

c)

trough market

d)

recession market

109.

_____ is the process of preparing a plan for transferring property during one's lifetime and at one's death.

a)

liquidity

b)

tax-defferal

c)

investing

d)

estate planning

110.

Callen has a IRA (individual retirement account) that is tax-deferred. What does it mean to be “tax-deferred”?

a)

It means that he doesn’t have to pay taxes on his gains until he withdraws it.

b)

It means that he will have to pay taxes now and not when he withdraws it.

c)

It means that he gets a money match from his employer.

d)

It means that he his investment has grown.

111.

_______ is a term used to describe how quickly your money can be converted into cash.

a)

Illiquid

b)

Liquidity

c)

Transfer

d)

Collateral

112.

The Johnsons are planning to retire. They have outline what they believe will be their expenses during retirement. Which of the following is least likely to be an expense for the Johnsons?

a)

medical care

b)

groceries

c)

utilities

d)

mortgage

113.

Eve and Kia file their taxes every year. Which agency has the responsibility of collecting their taxes?

a)

The Internal revenue Service (IRS)

b)

The department of Treasury

c)

The Securities and Exchange Commision (SEC)

d)

The Federal Trade Commission (FTC)

114.

Kain has invested in several stocks in his investment portfolio. If Kain has questions about his investments or feels that something is not being handled correctly, which agency could he contact?

a)

The National Credit Unit Administration (NCUA)

b)

The Internal Revenue Service (IRA)

c)

The Federal Reserve System (FRS)

d)

The Securities and Exchange Commission (SEC)

115.

The liquidity of an investment can affect the interest that you earn, but it is that liquidity of the investment that makes some investments the most useful. What qualifies an investment to be liquid?

a)

It must be easily converted to cash

b)

It must have a high rate of return

c)

It must be a long-term investment

d)

It must have a very low risk

116.

Which financial reform law was created to provide a stronger set of standards for public companies and accounting companies regarding the reporting of financial results of business operations?

a)

The Sarbanes-Oxley Act

b)

The Dodd-Frank Wall Street Reform

c)

The Financial Industry Regulatory Authority

d)

The Consumer Financial Protection Act.

117.

Which agency has the responsibility of providing the nation with a safe and flexible financial system?

a)

The Federal Reserve System

b)

The Securities and Exchange Commission (SEC)

c)

The Department of Treasury

d)

The Internal Revenue Service (IRS)

118.

_______ protects the name and identifying symbol of a product or company.

a)

Trade secret

b)

Patent

c)

Trademark

d)

Copyright

119.

The exclusive right granted to an inventor to manufacture, use, or sell an invention is a(n) ____________.

a)

Patent

b)

Trademark

c)

Trade secret

d)

Copyright

120.

Gross Domestic Product

a)

is the market value of all final products produced in a country during a specific time period.

b)

includes everything people buy for personal use, such as food, clothing, cars, medical care and recreation.

c)

is the GDP of a nation divided by its population.

d)

is the general rise in prices throughout an economy.

121.

A high GDP means the economy is

a)

Strong

b)

Weak

122.

Established in 1890, this act was the first antitrust law in the US. It removed limits on competitive trade and kept companies from becoming a monopoly.

a)

Roe v Wade

b)

Clayton Antitrust Act

c)

Federal Trade Commision Act

d)

Sherman Antitrust Act

123.

A federal regulation intended to protect competitors from

takeovers that would limit competition

a)

CELLER-KEFAUVER ANTIMERGER ACT

b)

CLAYTON ACT

c)

ROBINSON-PATMAN ACT

d)

SHERMAN ANTITRUST ACT

124.

A federal regulation intended to prevent specific business actions that might prohibit competition (e.g., tying agreements and exclusive agreements)

a)

CELLER-KEFAUVER ANTIMERGER ACT

b)

CLAYTON ACT

c)

ROBINSON-PATMAN ACT

d)

SHERMAN ANTITRUST ACT

125.

An illegal agreement that forbids customers from buying goods and services from competitors

a)

EXCLUSIVE AGREEMENT

b)

INDIRECT COMPETITION

c)

MONOPOLISTIC COMPETITION

d)

MONOPOLY

126.

A federal regulation that established a regulatory agency, the Federal Trade Commission (FTC), to monitor business activities in order to prevent unfair competition

a)

FEDERAL TRADE COMMISSION ACT

b)

CLAYTON ACT

c)

ROBINSON-PATMAN ACT

d)

SHERMAN ANTITRUST ACT

127.

Monopoly that the government allows to exist legally

a)

REGULATED MONOPOLY

b)

INDIRECT COMPETITION

c)

MONOPOLISTIC COMPETITION

d)

MONOPOLY

128.

A federal regulation that prohibits price discrimination

a)

CELLER-KEFAUVER ANTIMERGER ACT

b)

CLAYTON ACT

c)

ROBINSON-PATMAN ACT

d)

SHERMAN ANTITRUST ACT

129.

The Americans with Disabilities Act (ADA) requires that a company

a)

provide training to people with disabilities

b)

find ways to help workers who are physically challenged

c)

hire a certain number of people with special needs

d)

adapt products manufactured for special-needs customers

130.

A code of ethics is designed to

a)

meet government regulations

b)

reduce operating costs of a company

c)

provide guidelines for proper behavior

d)

improve employee productivity

131.

Antitrust laws are designed to

a)

reduce utility rates

b)

lower taxes

c)

create more jobs

d)

maintain competition

132.

The duty of a business to contribute to the well-being of a community

a)

Social responsibility

b)

Conservation

c)

Compassion

d)

Environmental consciousness

133.

An airplane engine manufacturer in Mobile, AL receives electrical equipment from a company in Birmingham, AL. What type of commerce is this?

a)

Interstate Commerce

b)

Intrastate Commerce

c)

Local Commerce

d)

International Commerce

134.

Which of these is not a tax that the government collects from individuals or businesses?

a)

Income Tax

b)

Property Tax

c)

Sales Tax

d)

Tariff Tax

135.

Which of the following government actions is most likely to stimulate the economy:

a)

Lowering tax rates

b)

Rising the prime interest rate

c)

Printing less money

d)

Borrowing more money

136.

Government provides protection to business owners’ property through the use of

a)

zoning laws.

b)

minimum-wage laws

c)

safety standards.

d)

consumer-protections laws.

137.

Which of the following regulatory agencies would be concerned with price fixing and unfair competitive practices:

a)

National Labor Relations Board

b)

Consumer Product Safety Comission

c)

Federal Communications Commission

d)

Federal Trade Commission

138.

A restaurant fails to meet government regulations, so it loses its __________ and is no longer allowed to do business.

a)

license

b)

price controls

c)

tariffs

d)

disposable income

139.

Which statement best describes a subsidy?

a)

A payment levied on firms

b)

A bonus given to workers to increase productivity

c)

A cash grant given to a business to encourage production of a particular product

d)

A tax levied on a good or service

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